According to Baker Hughes data from January 17th, 2014, the U.S rig count for this week is 1,777 rigs exploring for or developing oil or natural gas. This count is an increase of 23 rigs when compared to last week, with oil rigs up 15 to 1,408 rigs, gas rigs up 8 to 365 rigs, […]
Each month the Bureau of Labor Statistics puts out its series of producer price indexes (PPI), for thousands of goods and materials. The latest release on Wednesday reported December results. These statistics are a useful way to evaluate any changes in the competitive position of steel against competing materials. See below for the official description […]
According to Baker Hughes data from January 10, 2014, the U.S rig count for this week is 1,754 rigs exploring for or developing oil or natural gas. This count is an increase of 3 rigs when compared to last week, with oil rigs up 15 to 1,393 rigs, gas rigs down 15 to 357 rigs, […]
Cargill will build its eighth U.S. steel processing center in response to increased demand for carbon steel sheet & coil products used in the manufacturing and shale oil and gas industry in Northern Colorado. The hot-rolled steel processing facility, located 60 miles north of Denver in Windsor, will begin construction in early 2014 and provide […]
Final November trade data shows that the United States received a total of 2,592,549 net tons of steel for the month. This is a decrease of 16.4 percent compared to the 3,101,063 NT imported in October. It is also a decrease from November 2012 tonnage by 4.8 percent. December license data figures are estimated at […]
The U.S. Department of Commerce recently released revised import statistics for the month of November and December. Total preliminary imports for November are 2,584,176 net tons (NT), down 16.7 percent compared to October import figures. November imports are below both the 3 month-moving-average (3MMA) and 12 month-moving-average (12MMA) calculated through October. December imports, based on […]
Genzink Steel, located in Holland, Mich., has promoted John Maxson to chief executive officer. Maxson has served as chief operating officer of the Genzink family-owned company for the past ten years. The announcement was made by Board Chairman Ken Genzink, son of founder Donald Genzink. Maxson said the company will focus on developing more rigorous […]
According to Baker Hughes data from January 3rd, 2014, the U.S rig count for this week is 1,751 rigs exploring for or developing oil or natural gas. This count is a decrease of 6 rigs when compared to last week, with oil rigs down 4 to 1,378 rigs, gas rigs down 2 to 372 rigs, […]
The Empire State Manufacturing Index showed disappointing manufacturing conditions for December. The survey by the Federal Reserve Bank of New York reported the general index at 1.0, up three points from November but indicating almost no change in activity for the month. The future outlook index was slightly less optimistic than November with all indices […]
A Christmas Eve start-up of the Nucor direct reduced iron (DRI) facility in St. Louis Parish, Louisiana, came off without a hitch. Within 24 hours the output quality matched best-in-class levels of Nucor’s Trinidad plant, said the company. “We are very pleased to announce this important step in executing our raw materials strategy,” said John […]
According to Baker Hughes data from December 27, 2013, the U.S rig count for this week is 1,757 rigs exploring for or developing oil or natural gas. This count is a decrease of 11 rigs when compared to last week, with oil rigs down 13 to 1,382 rigs, gas rigs up 2 to 374 rigs, […]
According to Baker Hughes data from December 20th, 2013, the U.S rig count for this week is 1,768 rigs exploring for or developing oil or natural gas. This count is a decrease of 14 rigs when compared to last week, with oil rigs down 16 to 1,395 rigs, gas rigs up 3 to 372 rigs, […]
Planned outages and the collapse of the storage dome at Nucor Steel Louisiana negatively impacted earnings said Nucor in its fourth quarter guidance. Earnings per diluted share are expected to be in the range of $0.30-$0.40, down from third quarter 2013 earnings of $0.46 per diluted share and fourth quarter 2012 earnings of $0.43 per […]
According to Baker Hughes data from December 13th, 2013, the U.S rig count for this week is 1,782 rigs exploring for or developing oil or natural gas. This count is an increase of 7 rigs when compared to last week, with oil rigs up 14 to 1,411 rigs, gas rigs down 6 to 369 rigs, […]
The AHRI released shipment data for heating and cooling equipment for the month of October 2013. This data is important to those in the steel industry as the equipment is made out of flat rolled steels. The data is also an important economic indicator for residential construction and growth. Residential Storage Water Heaters U.S. shipments […]
According to Baker Hughes data from December 6th, 2013, the U.S rig count for this week is 1,775 rigs exploring for or developing oil or natural gas. This count is an increase of 12 rigs when compared to last week, with oil rigs up 6 to 1,397 rigs, gas rigs up 8 to 375 rigs, […]
Final October import data was released earlier this week, showing total imports for the month at 3,101,063 net tons (2,813,240 metric tons). This figure is the highest tonnage seen since April 2012 when imports were 3,144,947 NT (2,853,051 MT). Total October imports are well above both the 3 and 12 month-moving-averages (MMA). Compared to September, […]
Each month Steel market Update publishes a table of 38 indicators that we believe captures the essence of the steel market and its drivers. Six of these indicators deal with construction which we believe consumes about 22 percent of all steel products in the US at present. Table 1 shows the construction section of the […]
US Steel announced the election by the board of directors of David S. Sutherland to the position of independent, non-executive chairman effective Jan. 1, 2014. Sutherland will replace executive chairman John Surma who will retire on Dec. 31. US Steel split the roles of CEO and chairman when Mario Longhi succeeded Surma as CEO in […]
The JP Morgan Global Manufacturing PMI rose to 53.2 in November from 52.1 in October, indicating a faster improvement in overall operating conditions. Manufacturing output and new orders rose at the quickest pace since February 2011. A moderate rise in employment was reported the US, Japan, the UK, India, Taiwan, South Korea, Turkey, Vietnam, Canada […]
According to Baker Hughes data from November 27th, 2013, the U.S rig count for this week is 1,763 rigs exploring for or developing oil or natural gas. This count is an increase of 2 rigs when compared to last week, with oil rigs up 4 to 1,391 rigs, gas rigs down 2 to 367 rigs, […]
According to Baker Hughes data from November 22nd, 2013, the U.S rig count for this week is 1,761 rigs exploring for or developing oil or natural gas. This count is a decrease of 1 rig when compared to last week, with oil rigs up 2 to 1,387 rigs, gas rigs down 1 to 369 rigs, […]
Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for September 2013 increased 18.1 percent, to 333,392 units, up from 282,335 units shipped in September 2012. Residential electric storage water heater shipments increased 10.6 percent in September 2013, to 304,310 units, up from 275,092 units shipped in September 2012. For the year-to-date, […]
Each month the Bureau of Labor Statistics puts out its series of producer price indexes, for thousands of goods and materials. The latest release on Thursday reported October results. These statistics are a useful way to evaluate any changes in the competitive position of steel against competing materials. For the purpose of this report, SMU […]
Worthington Industries is poised to take advantage of the natural gas boom through production of pressure cylinders and gas processing units. About a third of Worthington’s profits are derived from their pressure cylinder segment. Worthington has five Ohio facilities and, with proximity to the Marcellus and Utica shale plays, has begun the manufacture of cryogenic […]
According to Baker Hughes data from November 15th, 2013, the U.S rig count for this week is 1,762 rigs exploring for or developing oil or natural gas. This count is an increase of 8 rigs when compared to last week, with oil rigs up 2 to 1,385 rigs, gas rigs up 5 to 370 rigs, […]
The U.S. Department of Commerce (DOC) released Final Census Data on steel imports for the month of September. Total imports (all products) were reported to be 2,818,675 net tons which is down slightly from the 2,878,367 net tons received during the month of August. Compared to last September (2012) there were 215,624 more tons received […]
Severstal NA reported sales volume increased 2.6 percent quarter-over-quarter to 1.2 million tonnes in the third quarter due to improved sales of CRC and galvanized products. Revenue was reported at $993 million, up 4.2 percent from $953 million in the second quarter. Higher sales volume and pricing along with lower costs at Severstal Columbus resulted […]
According to Baker Hughes data from November 8th, 2013, the U.S rig count for this week is 1,754 rigs exploring for or developing oil or natural gas. This count is an increase of 12 rigs when compared to last week, with oil rigs up 7 to 1,383 rigs, gas rigs up 5 to 365 rigs, […]
Goldman Sachs steel analysts, in a letter to their clients seen by Steel Market Update, upgraded the steel sector as they feel, “…we see the sector heading to a sustainable recovery over the coming years…” They went on to tell their clients, “The supply-demand fundamentals for steel are starting to look more appealing, particularly for […]